Jimmy Choo’s backers have recommended the luxury footwear and accessories business be put up for sale following the completion of a strategic review.

Towerbrook Capital, which acquired a majority stake in Jimmy Choo in 2007, appointed investment banks Goldman Sachs and Morgan Stanley to carry out a strategic review of the business in September last year. The two have now recommended that the company be sold rather than floated.

It has been reported that the company could be sold for a sum of around £500m. The brand has 115 stores worldwide.